The Village seamlessly creates synergy between the roles of membership institution, regulator, technology company, and academic unit.
The main functions of the Fin & Tech Innovation Village are to:
- • Enrich FinTech talent
- • Provide technological consulting services
Using models including collaborative solution development, experimental innovation, and joint purchasing of technological consultants’ integrated services, it provides personnel matchmaking, technical training, case studies, high-level exchange, topical lectures, joint purchasing, consulting, resource sharing, technological support, and other services.
Practical Innovation Model
The Village identifies pain points in FinTech through experimental design, then, based on technological theory, builds practical models to prove and modify the concepts in experimental conditions, accelerating diffusion of best practices. Provided experimental results are good, the Village provides its members with practical guidance to jointly develop technologies, platforms, curricula, and business models. To implement this experimental innovation process, computer simulations and case study discussions are provided through situation practice modules. Consulting services involve lectures by regulators and industry experts, emphasizing problem resolution and guidance. Exchanges help member institutions to stay up-to-date with the FinTech digital revolution, integrate resources and reduce costs.
RegTech, information security, and data security have been designated as the initial topics:
- • Developing money laundering detection models and shared platforms
- • Designing and rehearsing financial information security attack and defense drills
- • Improving risk management using AI
FinTech Talent Training Structure